Water presents high risk to agribusiness:
Whether it’s growing crops, generating electricity or entertaining tourists, water is a key ingredient for the success of the New Zealand economy, yet this also makes it a key risk.
PwC’s latest publication, Preserving water through collaboration that works, considers how New Zealand within a global context, has responded to water risks and the potential to improve water management in the future. New Zealand faces its own risks which differ from those in other parts of the world, and these risks, are increasing.
PwC Director and Local Government expert David Walker says, “A usable supply of water is fundamental to the New Zealand economy and permeates across all industries – and notably farming, forestry, electricity generation and public sectors. However continued effective water management is becoming more complex and costly. . .
ASB Farmshed Economics Report Cash is king for farmers
• Despite a better milk price forecast, farm cashflows will remain weak this season.
• But falling interest rates are putting cash back in farmers’ pockets.
• Meanwhile, the hot air has been let out of the NZ dollar.
Despite Fonterra’s better opening season milk price forecast, farm cashflows will still face pressure this season, according to the latest ASB Farmshed Economics Report. . .
TPP dairy deal ‘not at a level we would currently like’, says Key – Pattrick Smellie:
(BusinessDesk) – The Trans-Pacific Partnership trade pact does not yet include an acceptable deal on access for New Zealand’s most important exports, dairy products, with little more than a month to go before the controversial 12 nation trade deal could be concluded.
“I think the way I would describe it is there’s a deal. It’s probably not at the level that we would currently like,” said Prime Minister John Key at his post-Cabinet press conference in Wellington. He was referring to comments last week by Trade Minister Tim Groser that negotiations on dairy access to the heavily protected US, Canadian and Japanese markets had “barely started.” . . .
A2 shareholder Freedom Foods in consortium to take over milk marketer – Fiona Rotherham:
(BusinessDesk) – A2 Milk Co’s cornerstone shareholder, Freedom Foods Group, is part of a consortium with an international dairy group that’s eyeing a takeover of the dual-listed milk marketer.
Freedom Foods, which owns about 19 percent of A2 Milk with a related entity, is mulling a takeover of A2 Milk, making an indicative non-binding and conditional expression of interest to buy the shares it doesn’t already own. A deal would be contingent on the consortium, which includes an “unnamed leading international liquid dairy milk company”, undertaking due diligence. It also has a restriction on A2 Milk changing the number of shares on issue, effectively scotching a planned equity raising. . .
LIC seeks $125M debt facilities this year, targets $140M equity over decade – Jonathan Underhill:
Livestock Improvement Corp, which aims to lift annual revenue to $1 billion by 2025, says it plans to establish $125 million of debt facilities this year and is likely to require $140 million in equity capital over the next 10 years to meet its growth goals.
Details of its capital requirements are included in a presentation the bull semen and dairy genetics database manager is taking around the country to explain to its shareholders how its changing focus, with increased capital spending and new product development, is changing its financial profile. Previously it has only required seasonal debt funding, typically for three months, the presentation shows. .
Upper South Island Butchers Battle It Out:
The best young butchers in the Upper South Island have been announced following the Alto Young Butcher and Competenz Butcher Apprentice of the Year regional final on Saturday.
Rowan Lee from Peter Timbs in Bishopdale was the winner of the Alto Young Butcher category, while Matthew Clemens from New World Ilam topped the Competenz Butcher Apprentice category, both highly sought after titles. . .
Tractor and Machinery Association elects new President:
Mark Hamilton-Manns, New Zealand Sales Manager for John Deere, has been elected President of the Tractor and Machinery Association (TAMA).
Formerly Vice President of the organisation, he takes over from Ian Massicks, New Zealand Kubota Manager for CB Norwood Distributors, who had been President for six years.
Roger Nehoff, General Manager New Zealand Retail for Landpower New Zealand, was elected Vice-President. . .